Home Decor Firm Wallmantra Targets Rs 100 Crore Turnover By 2025
Home decor products manufacturer and retailer WallMantra said it aims to reach the Rs 100-crore turnover mark by 2025 on the back of offline capacity expansion and e-commerce. Innovative home decor startup WallMantra has seen its turnover going up from Rs 2 crore to Rs 20 crore since lockdown. It now aims to reach the Rs 100-crore mark by 2025. "When we started in 2017, our goal was to give a trendy decor option - wall decal - at an affordable cost. Last year, our revenue touched Rs 18 crore, which is 10-times more than what we normally make. This has encouraged us to aim higher and reset our goals, we are now aiming to become a 100-crore brand in the next three years," WallMantra CEO Jitesh Agarwal said in a statement. The plan also includes opening two stores in the National Capital Region (NCR) and increasing the number of online sellers on the website, it added. "We are currently looking for funding and we require around USD 2 million, which is around Rs 15 crore. Early this year, we had raised Rs 1.95 crore from Fluid Ventures, which we will use for marketing, publicity and hiring people," Agarwal stated. The new plans also include upgrading the numbers of their online sellers and expanding their manufacturing unit. "We already have 50-plus sellers who are live on our website. We want to grow it to 300 sellers in three years. As far as manufacturing goes, we plan to expand from wood and metal stuff to new categories like designer electronics and home automation in the next three years," he added.
Tags : Home Decor Firm Wallmantra WallMantra CEO Jitesh Agarwal e-commerce